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The deadline for EU businesses to make non-domestic VAT reclaims for 2011 expenditure is 30th September 2012.
The standard VAT rate in Hungary increased from 25% to 27% on 1st January 2012.
The European Commission has issued a set of explanatory notes ahead of implementation of the new Invoicing Directive (2010/45/EU) on 1 January 2013. The notes cover a number of important topics, such as which Member State's rules will apply, e-invoicing and storage, and invoicing for exempt supplies. The notes are aimed at helping Member States transpose the new invoicing legislation in a more uniform way and providing business with the necessary information to adapt to the new rules in time. The notes are available at: http://bit.ly/mZbeGX
The ECJ has held that a person’s personal residence should not normally be taken into account when deciding where a taxable person has established their business.
Ireland have increased their standard rate of VAT from 21% to 23% with effect from 1st January 2012, and have introduced a temporary reduced rate of VAT of 9% on certain tourist related goods and services for the period 1st July 2011 until 31st December 2013.
The UK tax authorities have launched a campaign to find businesses that have not registered for VAT even though their turnover exceeds the registration limit of £73,000 p. a.
In France from 1 January 2012 the reduced VAT rate increased from 5.5% to 7%. Exceptions are food, energy, and equipment for handicapped persons, which will remain taxable at 5.5%.
The standard VAT rate in Madeira will increase from 16% to 22% from April 2012. The reduced rates will increase at the same time from 4% and 9% to 5% and 12% respectively.
The deadline for non-EU claimants to make VAT refund claims on EU countries (other than the UK) is 30th June 2012.
It is proposed that with effect from 1st December 2012 non-UK businesses must register for UK VAT if they make any supplies in the UK. This will mean that a foreign exhibitor at a trade show must register for UK VAT if selling goods from their stand, as would overseas companies making occasional sales in the UK. The draft proposal is available at http://bit.ly/xtoo0u
With effect from 1st January 2012 the VAT rate on hotel accomodation in Lithuania has been increased to 21%.
The reduced VAT rate of 10% in the Czech Republic has increased to 14% with effect from 1st January 2012.
The French President has announced an increase in the standard VAT rate from 19.6% to 21.2% to take effect from 1st October 2012, subject to the approval of the French Parliament
The standard VAT rate in Cyprus increased from 15% to 17% from 1st March 2012. The reduced rates of 5% and 8% remain unchanged.
From 1st March 2012 the standard VAT rate in Croatia increased from 23% to 25% and VAT on entertainment expenses became non-deductible.
There is a proposal to merge the reduced and standard rates of VAT in Czech Republic to 17.5% with effect from 1st January 2013.
From 1st October 2012 the standard rate of VAT in The Netherlands will increase from 19% to 21%.
For over three decades Quipsound has operated from the largest global VAT recovery centre in the UK, and has built a team of highly qualified VAT recovery specialists. Quipsound is able to offer its clients the most comprehensive and highest quality global VAT recovery service.
Quipsound’s VAT recovery services are provided to companies throughout the world as diverse as pharmaceuticals, information technology, retail chains, telecommunications, insurance and banking, and manufacturers and service providers in every conceivable industry.
More than 5000 clients, including many of the world's largest companies, rely on the world's leading VAT recovery company to retrieve their refunds worth hundreds of millions of dollars.